The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-10-15
MONEY, BONDS AND STOCKS.

IN Active but Weak Market, Almost All
Stocks Selling at Lower Figures.
NEW YORK, Oct. 14-Money call was
easy at 405 per cent. the last loan being
made at per cent, and closing offered at 5
FER cent.
Prime mercantile paper, GAG per cent
Sterling exchange was active and firm at
$4Sl3 for sixty-day bills, and 81 S54 for de-
mand.
The total sales OF stocks to- day were 500. COB
shares. including the following: Canada
Southern, 1920; Delaware. Lackawanna q
Western, 1890; Erie, 24,s3O; Kansas &
Texas. APIS; Lake Shore. 35.400; Louis
vile g. Nashville. IL. $50; Missouri Pacific,
1920; Northwestern, 3D. 235; New Jersey
Central, a, 300; New York Central, $500; North
Pacific preferred, 1910; Oregon Transcon-
tinental, 5000; Reading, 145,020; ST. Paul,
60 172; ST. Paul & Omaha, $50: Texas Pacific,
1000: Union Pacific, 1880; Western Union,
81 660
The stock market to-day was very active but
weak in the forenoon and though a material raj
ly occurred in the afternoon it not enough
to wipe out the losses made. The bears mad 9
free use of an interview with Mr.. Dcpew pub
lished in the morning papers, and succeeded in
frightening holders to such an extent that prices
were forced down from to p per cent. There
Ii grave doubt il Wall street that Mr.. Depew
spoke precisely he is reported to have done,
and the denials put out later 60 far to make this
q certainty. But all kinds OF statements were
made in regard to it, the bears going SO far
to allece that Mr.. Gould and the vanderbilts
we're behind the bear" movement The Van
derbilts and Western Union were the
heay.est , sufferers ei, in the s deeine
IN the early dealings. Reading was again well
supported, a large amount of it changed hands
and it became known at the close of business that
the reorganization completed; the opposi-
ton bonds were deposited before this was done,
and the new securities will be issued by Dec
81, before, if possible The grangers we're al
prominently weak, with exception of Mani
toba, but the movement in the remainder were
of com paratvely little i'm portance. The ''short"
interest is believed to be immense and some
stocks are becoming very scarce for delivery on
account of the large amounts which have bsen
paid for and taken out of the street The open
ing active but decidedly weak. and further
declines made IN the early trading,
which also feverish and irregular.
Western Union and ST. Paul were the leaders in
the downward movement, while Reading was
most conspicuous in the rallies which occurred.
The Vanderbilts also steadily lost ground. but
their fluctuations were not SO violent. The de-
cline met with serious check until near
o'clock. when from to per cent was gained.
but the selling renewed in the last hour,
aud the close active and weak at close to
the lowest prices of the day. Almost every
thing is lower, tAs only exceptions being Mani
toba, with eaiISof I. and Oregon Navigation l.
Omaha lost 3; New York Central, %; Lake
Shore. 2t North western. %; Missouri Pacific
and Western Union. 2 each; Northern Pacific
preferred. II: Erie, Louisville & Nashville, Nor
folk & Western preferred. and Lackawauns, Il
each; St Paul and Colorado Coal, II each
Union Pacific, Reading, Richmond & West
Point and JERSEY Central, 1t each The pro-
jected extension of the Weeeing & Lake Erie
has been abandoned. and there will be no
issue of stocks the policy of the management
being to begin the payment of quarterly diyi-
bends of per cent.
Railroad bonds, with the exception of Erie
seconds, which contribute $500 900. ana Texas
Pacific Rio trust receipts, with $4,000 to the
days total, were dull and heavy to weak. Hous
ton e. Texas general certificates lost 2 at So;
Iron Mountain seconds 2. at no. Shenandoah
Valley general skies, 3, at 34;lToledo, Aun Arbor
& Grand Trunk frsts %. at 1929
Government bonds were dull but firm for the
fours
State bonds were dull and firm. Closing quo
tatlons